House is just not a word or just a structure where people live. In itself, it is an emotion. The notion behind buying the house is to get home. Moreover, home is just not a place where you live, it is a place where love living.
When we say love living, it means that we have to love the place we are buying. I am pretty sure if you are planning to buy a new house in Bangalore, you are experienced enough in life. We all have heard love is blind but in reality, it is not. So just don’t go and fall in love with what you see, the same goes for when you are planning to buy a new house.
Coming to our agenda: What is the process to buy a new house in Bangalore?
There are some steps or you should follow when buying a new house.
- Legality
Before narrowing down your apartment options, make sure that the property plans are approved by the government of Karnataka. Moreover, plans follow the laws set by the government and have no deviation from the original plan.
- Builder Reputation
Before finalizing any house, do a bit of homework and check out the background of the builder regarding its reputation in the market. In a huge city like Bangalore, there are some people, who will try to con innocent homebuyers and make waver from their promises. If you’re planning to buy an apartment of the under-construction project, be sure that they provide the apartment at the promised possession date, along with the required documents.
- Project Location
When you are buying a property, you should be aware of the location you are choosing.
As we all know, Bangalore is an IT hub of India. The workforce coming from around the world and the development of Bangalore is directly proportional to each other. That is why you have to be wise when you are choosing the location of your property in Bangalore because it will directly impact the market value of your property.
- Amenities
When the area of an apartment is mentioned, you might be eager to know that you’re getting a spacious apartment at a great price. Well, there are three different area terms you need to understand before going ahead with the property purchase:
Carpet Area: This is the actual area of your apartment.
Built-up Area: This is the total area occupied by your carpet area (the area confined by the four walls) and the area occupied by the apartment walls.
Super Built-up Area: This is the sum of the carpet area, built-up area and the proportionate of the common areas of the residential complex.
- Budget
When we say budget, it is not only about the price we will pay for the property, but it also includes some hidden charges like:
- Club membership charges
- Parking space charges
- Service tax
- Stamp duty
- Registration charges
- Home loan processing fees
- Electrification charges
- Transformer charges
- Floor rise charge
- Water supply charge
- Preferred location charges (PLC), etc.
- Competitor’s Work
After choosing the location for your investment don’t just go and see one project. However, you should also look for different projects. While Looking at different projects you will be able to compare the pros and cons of your house and you can analyze the property, whether it is worth buying for the price or not.
Conclusion
You are going to invest your life-savings in your house. So be smart, have patience.
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